trends
TRADER
TikTok Dough
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Luckbox sponsors a new tastytrade network segment to teach two young influencers the trade 2
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wo Gen Z TikTok influencers are learning the fine art of trading stocks and options from a seasoned pro—and they’re doing it in real time, with real money on a live webcast. The students, Kayla Kilbride and Errol Coleman, are getting seed money and tutoring from legendary trader Tom Sosnoff, co-CEO of the tastytrade network and the tastyworks brokerage. The timing seems right for Kilbride, Coleman and perhaps a whole generation of young investors to join the movement in retail trading with today’s commission-free trading and app-based platforms. Kilbride and Coleman embody the phenomenon. Both have dabbled in trading, and both have amassed significant followings on TikTok, a medium that attracts a billion users every day—70% of them under the age of 24. Those users aren’t coming to TikTok in those numbers just for dance challenges and funny cat videos. Many consider the app an important tool for bite-sized learning and life hacks. In fact, Gen Z—people age 24 and younger—is already turning to the app for information on personal finance, banking, mortgages and investing. “Fin-influencers” are emerging. The hashtag #investing has garnered a billion views, while #stocktok has attracted more than 254 million views. Those visitors have money to invest. American Gen Z-ers wield $143 billion in spending power, more than enough to catch the attention of financial institutions. There’s also a certain open-mindedness about the young cohort.
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Some 44% of Gen Z would consider using fintechs instead of traditional brands, which is almost twice the rate of previous generations. About 35% of Gen Z has attended a financial education seminar or lecture, according to Fanbytes, an influencer marketing platform. The generation has good reason to seek that financial help, studies indicate. Many consider money a major stressor, and 33% cite personal debt as a huge source of anxiety. That’s where Sosnoff can help. Before his efforts to educate and empower investors at tastytrade and tastyworks, he co-founded the thinkorswim trading platform and served as senior vice president of trading and strategic initiatives at TD Ameritrade. He later helped start the dough trading app and the Small Exchange to make futures more accessible to retail traders. Luckbox is also an offshoot of the tastytrade financial network. Sosnoff advocates options trading as a long-term strategy for small investors, contrary to experts who claim that options are too risky. Using call options and put options can reduce the risk of owning stocks, he maintains. On the tastytrade network and in seminars, he demonstrates the mechanics and strategies of options trading. Now, Sosnoff is sharing his knowledge and expertise with Kilbride and Coleman. Their progress in learning to trade is on display in a Luckbox Presents show on the tastytrade network called The Two Yutes. Catch it live Mondays and Fridays at 1:30 p.m. Central Time. Meanwhile, here’s an introduction to Kilbride and Coleman.
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4 1. 34” MSI Non-Glare Ultra Wide Screen Curved Gaming Monitor Displaying TradingView stock market technical candlestick charts 2. Google Nest Hub Max Clock display 3. Razer Blackwidow Elite
Mechanical Gaming Keyboard Chroma RGB Lighting 4. Logitech G903 Lightspeed Wireless Gaming Mouse w/ Hero 25k Sensor 5. Corkcicle Corey Wilson Palm Design water bottle
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1. 15-minute timeframe to view intraday trend, thinkorswim 2. 1-minute timeframe to view short-term price action, thinkorswim
4. Books: Think and Grow Rich, by Napoleon Hill; Atomic Habits, by James Clear; and The Biggest Bluff, by Maria Konnikova 5. Samsung speaker
3. Liverpool Football flag
Luckbox | April 2021
2104-trends-trader.indd 44
2/26/21 11:44 AM
